The move comes at a time when Italian banks are reining in business loans and big debt-heavy companies like Fiat, Enel and Telecom Italia are grappling with credit rating downgrades. Others are considering selling assets to shore up balance sheets and avoid diluting their current shareholders.

D’Amico said late Monday its board has approved a capital increase to raise up to €97 million in fresh capital. That’s twice the company’s current market value, so a major decision.

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